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Virgin Galactic drops 20% on Friday after Chamath Palihapitiya dumps his $213 million personal stake



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Virgin Galactic leaders in front of the New York Stock Exchange, from left: CEO George Whitesides, founder Richard Branson and Chairman Chamath Palihapitiya.Virgin GalacticBillionaire investor Chamath Palihapitiya, the chairman of Virgin Galactic who took the company public through a SPAC deal in 2019, sold his remaining personal stake this week, a securities filing disclosed.Shares of Virgin Galactic dropped as much as 18% in Friday’s trading from its previous close of $30.30 a share. The company’s stock, down more than 30% this week alone, has lost more than half its value since hitting an all time high of $62.80 in early February.The shares …

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